Steel Partners (NYSE:SPLP) Shares Gap Up - Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $39.39, but opened at $41.50. Steel Partners shares last traded at $41.50, with a volume of 106 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on Steel Partners in a research report on Monday, May 19th. They set a "strong-buy" rating on the stock.

Steel Partners Stock Up 4.1%

The company has a 50 day moving average price of $40.14 and a two-hundred day moving average price of $39.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The stock has a market cap of $820 million, a PE ratio of 4.21 and a beta of 1.25.

Steel Partners Dividend Announcement

The company also recently disclosed a dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were given a dividend of $0.375 per share. This represents a yield of 3.84%. The ex-dividend date was Friday, May 30th. Steel Partners's dividend payout ratio (DPR) is presently 3.32%.

Insider Buying and Selling

In other Steel Partners news, President Jack L. Howard sold 25,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $24.20, for a total transaction of $617,100.00. Following the completion of the sale, the president owned 62,149 shares of the company's stock, valued at approximately $1,504,005.80. The trade was a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 84.80% of the company's stock.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its position in Steel Partners by 4.7% during the first quarter. Gamco Investors INC. ET AL now owns 101,372 shares of the conglomerate's stock valued at $4,157,000 after purchasing an additional 4,508 shares during the period. HighTower Advisors LLC grew its stake in Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after purchasing an additional 577 shares in the last quarter. Teton Advisors Inc. grew its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after purchasing an additional 500 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in Steel Partners during the 1st quarter valued at $330,000. Institutional investors own 50.75% of the company's stock.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.